Pros and Cons of Prescreened Credit Card Offers Pros: Opt Out of Credit Card Offers This type of credit card opt out only stops letters and calls that come due to your credit status, not from companies that don’t pre-screen your credit. Remember, opting out of prescreened credit card offers does not stop all unsolicited junk mail. If you’re planning on sending a written request to the major consumer credit reporting companies, you can address your letters to the following: This form must be printed, signed, and mailed to the address provided. If you choose to opt-out permanently, you will be required to mail in a Permanent Opt-Out Election form. Send a written request to the major consumer credit reporting companies.You can choose to not receive calls, emails, or letters forever or for the next five years. The Consumer Credit Reporting Industry has created a way for consumers to opt out of receiving prescreened offers. If you already have enough credit lines (or maybe you have too many credit cards) it may be worth your while to fill out a form or make a call to opt out of the prescreening process and stop credit card offers. They may send offers through the same channels to try to entice you to switch to their services. Insurance companies can also use this process to find new policyholders. If your name is on that list, you will then be considered prescreened or preapproved.Ĭredit card companies are not the only ones who can take advantage of this pre-screening. Then they turn to consumer reporting companies and request a list of consumers who meet their criteria. Creditors will create a list of criteria to identify potential new customers. These offers are based on information found in your credit history. These offers typical claim that you have been prescreened or preapproved, for a new line of credit. What is a Prescreened Credit Card Offer?Ĭredit card companies often send out offers of new credit to potential customers through letters in the mail, unsolicited phone calls, or emails. Keep reading to learn how a simple phone call or form can help you stop credit card offers coming in the mail or to your phone. Thankfully, if you’re tired of managing these endless requests and notices, there is a way to opt out of credit card offers. These communications can be frustrating and even overwhelming at times. More often than not, answering these notices leads you to find yet another offer claiming that you have been prescreened for a new line of credit. How often have you checked your mail or answered your phone only to find another prescreened credit card offer?īlank envelopes and phone calls from unnamed phone numbers may seem like official notifications.
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